Residential Income Property with Detached
For Sale
$779,000
Pending
135 E MAIN STREET, Tuckerton, NJ 08087
The property includes an oversized detached garage and is zoned SV.
Property Size2,873 SF
Days on Market82
Property Features for 135 E MAIN STREET
General Information
Standard status
Pending
Size
2,873 SF
Total Parking Spaces
1
Property subtype
Residential Income
Zoning
SV
Taxes and HOA fees
Annual Taxes
$8,175
Amenities
Window Unit(s), Electric
Natural Gas, Radiant
Unfinished
Electric Water Heater
Oversized, Garage, Detached
Other
Building Details
Building Size
2,873 SF
Year Built
1925
Listing Agency:
Garabedian Realty Group, LLC.
Listed By:
Matthew Garabedian · License #9804363
(609) 494-8400
Source:
Evrealestate
Added: Jul 6
Changed: Sep 24
Last Checked: Sep 24 at 1:59PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Garabedian Realty Group, LLC.
Investment Insights
Based on property information with market context.
Built in 1925, this residential income property has an oversized detached garage. Interior features include electric window units, radiant heat, an unfinished area, and an electric water heater; natural gas is also listed among the heating details.
The property is at 135 E Main Street in Tuckerton, Ocean County, New Jersey. Its zoning designation is SV.
The property is at 135 E Main Street in Tuckerton, Ocean County, New Jersey. Its zoning designation is SV.
Key Highlights
- Oversized detached garage
- Built in 1925
- Zoned SV
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$44,181
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.67%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$883,620
$883.6K
Cap Rate 7%
$631,157
$631.2K
Cap Rate 9%
$490,900
$490.9K
Market Conditions
NOI Build-Up for 2,873 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$86.2K $30.00/SF
− Vacancy
−$5.9K −$2.04/SF
EGI
$80.3K $27.96/SF
− OpEx
−$36.1K −$12.58/SF
NOI
$44.2K $15.38/SF
Area
Ocean County, NJ
Vacancy
6.80%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$883,620
Cap Rate 7%
$631,157
Cap Rate 9%
$490,900
Alternative Uses
Best Use
Apartment 5plus
$631.2K
$552.3K – $736.4K
NOI $44,181 @ 7.0% cap · market cap 5.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$750.2K
$656.4K – $875.2K
NOI $52,514 @ 7.0% cap · market cap 6.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
355
Businesses Nearby
Explore this area
Business Placement
Demographics for 08087, NJ
25,191
Population
12,982
Households
1.9
Avg Household Size
49
Median Age
28%
College-Educated
94%
High-School Grad
70.1 sq mi
ZIP Area
359
Density / Sq Mi
$87,449
Median Household Income
$47,779
Median Earnings
$1,760
Median Rent
$323,500
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - The property includes an oversized detached garage and is zoned SV.
Where is this residential income property located?
The property is located at 135 E MAIN STREET Tuckerton, NJ.
What is the asking price?
The asking price for this property is $779,000.
What are key features of this property?
This property features: Oversized detached garage; Built in 1925; Zoned SV
